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Inter-state racket of fraudsters busted
The city police on Wednesday night arrested four persons, suspected to be members of an inter-state gang, for allegedly attempting to withdraw Rs 3.92 crore from the accounts of a public sector petroleum unit.
Hyderabad: The city police on Wednesday night arrested four persons, suspected to be members of an inter-state gang, for allegedly attempting to withdraw Rs 3.92 crore from the accounts of a public sector petroleum unit.
Vaidehinagar's SBI branch manager B Ramgopal in his complaint lodged on September 19 stated that Nallapureddy Jalireddy, who opened a bank account in the name of Jeevan Jyothi Trust Chairman, presented four cheques worth Rs 3.92 crore belonging to the public sector petroleum unit in the branch for withdrawing the amount.
However, on scrutinising the cheques, it was found that they were forged in the name of the chairman of the petroleum unit, the senior official said.
A case was registered under charge of cheating and other relevant sections of the IPC. During investigation, Jalireddy was first taken into custody and he confessed to police that Bodapati Venkata Nagaraju had handed over the four cheques through another person named Balu and the former presented the cheques at the Vaidehinagar branch of the bank.
Subsequently, Bodapati Venkata Nagaraju was nabbed and based on his confession, police apprehended K Chaithanya and Singireddy Rama Krishna, police said.
